5 Coin Weekly Forecast | BTC ETH BNB SOL XRP

2024-06-17, 07:37

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![](https://gimg2.gateimg.com/image/article/1690791888top5cryptoprediction.jpeg)
## TL；DR
Last week, the overall crypto market has shown a volatile trend, with most mainstream coins experiencing a downward trend since opening. Even though some coins have shown a slight upward trend, the short-term trend still shows a rapid downward trend. The total market value of the crypto market continues to decline, and the performance of several mainstream top coins could be better. After entering the weekend closing period, market volatility gradually stabilizes, and most mainstream coins tend to stabilize. Currently, market sentiment remains around 54. The BTC price remained around $66,600 during the weekend, and the ETH decline was relatively slow, reaching around $3,600. The market is also relatively stable. The market value has significantly declined compared to last week's period, maintaining around $2.44 trillion. The weekly market trend of several key coins is mainly dominated by the downward trend, except XRP prices showing a significant rebound. At present, the top five cryptocurrencies in the total market cap of the crypto market are still <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> (BTC), <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> (ETH), Binance (<a href="/price/bnb-bnb" target="_blank" class="blog_inner_link">BNB</a>), <a href="/price/solana-sol" target="_blank" class="blog_inner_link">Solana</a> (SOL), and Ripple (<a href="/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a>).

In the past week, the price trend of the five major coins has mostly been characterized by continuous fluctuations and declines since the beginning of the week, and most of them have shown a relatively stable trend towards the weekend. Currently, the price changes are becoming more stable. This article will study the performance of major assets, explore the factors that affect their price trends, and conduct corresponding analyses to predict their future short-term price trends.

## Bitcoin（BTC）
BTC has fallen by about 4.29% this week and is currently closing at around $66,597. The overall price change within the week is mainly characterized by rapid fluctuations and subsequent rapid declines at the beginning. At present, the closing price over the weekend has remained stable at around $66,600. The BTC price briefly broke through $70,000 this week, but has not been able to be maintained for a long time. Although the trend of the coin is currently stabilizing, there is a possibility of a cyclical upward trend over the weekend, but the magnitude may be relatively small. The high point of BTC's weekly price is $70,096, and the low point is around $65,402 when the downward trend occurred.

Analysis suggests that the recent price trend of BTC is mainly influenced by the market's overall fluctuation cycle. In the past week, the crypto market has lacked clear upward signals and price support, which has a significant impact on BTC prices. The BTC price is in the adjustment stage after a decline, and the coin price has a certain recovery trend, but it is difficult to break through the price level of $68,000 in the short term. Overall, the price of BTC remains in a state of continuous fluctuations between a few thousand US dollars in a week, and the probability of a large-scale increase in the short term is relatively small. However, the probability of the coin breaking through $70,000 again in the following week is relatively high.
![](https://gimg2.gateimg.com/image/article/17186097201.jpg)
Bitcoin Price Data (Data Courtesy of CoinMarketCap)

## Ethereum（ETH）
ETH fell 2.60% this week and closed at nearly $3,600. The weekly trend of ETH coin prices maintains a strong correlation with BTC, and the price fluctuation curve is very similar, both of which belong to the adjustment trend that follows the market cycle fluctuations. After experiencing a slight fluctuation and increase since the opening, the ETH price has rapidly declined due to the impact of news and market fluctuations. After entering the weekend closing period and experiencing continuous rapid fluctuations and declines, the price trend gradually flattened out and has now shown an upward trend. In the short term, the ETH price will still be mainly in the range of $3,500 to $3,700 in the future. The peak price of this coin for a week is around $3,713 during the mid-week period. The low point appeared around $3,368 during the period of rapid decline.

Analysis suggests that the price of ETH continues the volatile downward trend of last week's market this week, with the opening price being the highest price of the week. There have been two rapid declines within a week, with short-term prices falling below $3,400. The coin price is greatly affected by the overall market fluctuations. It appears that there will be a significant increase in ETH prices in the future, but the probability of being affected by the news will be higher.
![](https://gimg2.gateimg.com/image/article/17186097412.jpg)
Ethereum Price Data (Data Courtesy of CoinMarketCap)

## Binance（BNB）
BNB rose 10.09% this week and closed near $609. The price trend of BNB for the week was mainly characterized by continuous fluctuations and declines. Due to the significant increase in BNB prices in the previous one or two weeks, this coin had a significant price correction trend this week. In addition, influenced by the cyclical fluctuations of the market, BNB prices have been continuously declining since the beginning of the week, and the price changes of this coin tend to stabilize during the weekend, maintaining a continuous fluctuation of around $600. At present, the high point of the coin's weekly price is around $675 during the opening period, and the low point is $591, which has fallen below the $600 level in a short period.

Analysis suggests that the weekly price decline of BNB is relatively large among mainstream coins. The overall decline in the crypto market this week and the significant price retracement of the coin have exacerbated the continuous decline in BNB prices. With the decrease in market trading volume this week, BNB prices have shown a significant lack of upward momentum, and currently, prices are relatively stable. The coin is expected to experience a slight upward trend next week, but the probability of returning above $650 is relatively small.
![](https://gimg2.gateimg.com/image/article/17186097583.jpg)
BNB Price Data (Data Courtesy of CoinMarketCap)

## Solana（SOL）
SOL fell 8.41% this week and closed near $148. The price trend of SOL within a week is similar to other mainstream coins, with a slight increase in price curve starting from the beginning of the week and then showing a rapid and continuous downward trend. The short-term price low dropped to $140, and it has rebounded slightly since entering the weekend closing period. Currently, there is a certain clear upward trend. The high point of the coin's weekly price is around $162 during the opening period, while the low point is around $140.4. Currently, the price is approaching $150.

Analysis suggests that the price of SOL will generally follow the overall market trend this week, similar to the weekly rise and fall trend of most mainstream coins. The SO ecosystem has recently adjusted from the previous excessive MEME narrative state, and the price of SOL is unlikely to experience excessive sharp drops and rises in the short term. Currently, the price trend has shown a certain upward trend. It is highly likely that the coin will rebound to above $160 in the following week, but it is still minly characterized by sustained fluctuations.
![](https://gimg2.gateimg.com/image/article/17186097734.jpg)
SOL Price Data (Data Courtesy of CoinMarketCap)

## Ripple（XRP）
XRP fell 1.56% this week and closed near $0.4888. The price of XRP has seen a slight increase since the opening period this week, followed by a continuous downward trend. After a rapid decline in the market, the price of XRP has maintained a similar trend as last week. After entering the weekend closing period, the price has experienced a rapid rebound but still shows continuous fluctuations. Although XRP prices have rebounded, they have remained below $0.5 for most of the week. The high point of the coin's weekly price is around $0.5039 during the weekend, and the low point is around $0.4647 during the rapid decline period.

Analysis suggests that XRP prices have shown a rapid decline at the beginning of the week for two consecutive weeks but have since rebounded to the same range as the opening price over the weekend. Prices remain in the range of $0.47-$0.50 and continue to fluctuate. It seems that the coin will continue to fluctuate more within the current price range in the short term, and the magnitude is relatively small. The price will still take time to return above the $0.5 level.
![](https://gimg2.gateimg.com/image/article/17186097905.jpg)
XRP Price Data (Data Courtesy of CoinMarketCap)

## What is to come?
The price performance of BTC, ETH, BNB, SOL, and XRP this week has further declined compared to the same period last week, but they have maintained a similar continuous fluctuation trend. The current market situation lacks clear bullish expectations, which has led to a relatively sluggish performance of most mainstream coins this week. Apart from the clear rebound trend in XRP prices, most mainstream coins are mainly characterized by continuous fluctuations and downward trends, and the probability of the mainstream market continuing to show slight fluctuations in the following week is relatively high. The price trends of several mainstream coins in the short term have been explained separately, but the temporary impact of news factors cannot be ruled out. More accurate information needs to be obtained through daily market fluctuations.

<div class="blog-details-info">
<div>Author:**Charles T.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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